The US-Israel war with Iran intensifies as Israel attacks Tehran during the Persian New Year festival, while Iran fires missiles in retaliation, causing energy prices to fluctuate.
On 20 March 2026 GMT+7, tensions in the Middle East escalated again when Israel launched air strikes on Tehran, the capital of Iran, during the Nowruz festival, the Persian New Year celebration. At the same time, Iran fired multiple waves of missiles at Jerusalem, with reports of continuous missile interception sounds throughout the night.
Prime Minister Benjamin Netanyahu stated that Iran's capabilities have been severely damaged, preventing it from restoring its nuclear capabilities or producing missiles as before.
The latest clashes occurred after Iran retaliated for an attack on the South Pars natural gas field, which had caused global energy prices to surge recently. Prices began to ease after Israel signaled a slowdown in attacks on energy targets and the United States announced plans to increase oil production.
Additionally, several countries including the United Kingdom, France, and Japan issued a joint statement expressing their readiness to support efforts to secure navigation through the Strait of Hormuz, a vital global energy shipping route. The latest developments highlight the risk of the conflict escalating further amid international concerns over security and the potential impact on the global economy.
Source: BBC